US consumer confidence is showing signs of improvement, with the Consumer Confidence Index from The Conference Board rising in May. However, despite this increase, the Expectations Index remains below the recession-indicating threshold.
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Although there was a slight increase in the Expectations Index to 74.6 from 68.8, it remains below 80, which typically signals a forthcoming recession.
The Present Situation Index, reflecting consumers' assessment of current business and labour market conditions, also saw a modest rise to 143.1 from April's 140.6. This was attributed to a more positive outlook on current labour market conditions.
Noteworthy statistics include:
- 20.3% of consumers considered business conditions 'good', slightly down from April's 20.8%.
- 17.6% perceived business conditions as 'bad', unchanged from the previous month.
- Consumers' assessment of the labour market improved slightly, with fewer respondents stating that jobs were 'hard to get' and a decrease in those viewing jobs as 'plentiful'.
Source: www.furnituretoday.com